Format:
Online-Ressource (30 p)
Edition:
Online-Ausg.
ISBN:
1451842198
,
9781451842197
Series Statement:
IMF Working Papers Working Paper No. 02/5
Content:
Under a monetary dominant (MD) regime, the primary surplus adjusts to limit debt growth, permitting monetary policy to be conducted independently of fiscal financing requirements. In Brazil, some evidence favors an MD regime for 1995–97, but not for the decade of the 1990s as a whole. While fiscal adjustments of 1999 yielded a primary surplus of about 3 percent of GDP, consistent with solvency, a credible MD regime would require further adjustments of the primary surplus if debt increases, growth falls, or interest rates rise
Additional Edition:
Erscheint auch als Druck-Ausgabe Tanner, Evan Fiscal Sustainability and Monetary Versus Fiscal Dominance: Evidence From Brazil, 1991-2000 Washington, D.C. : International Monetary Fund, 2002 ISBN 9781451842197
Language:
English
DOI:
10.5089/9781451842197.001
